The current business of Shougang Concord International Enterprises Company Limited includes trading of imported iron ore into the PRC; provision of private fund management services in the PRC and car park operation in the PRC with a focus on smart car parking system. In addition, it holds two associates listed in Hong Kong, namely, Shougang Fushan Resources Group Limited ("Shougang Resources") and Shougang Concord Century Holdings Limited. The businesses of the two listed associates include exploration and sale of coking coal and manufacture of steel cord for radial tyres and sawing wires; processing and trading of copper and brass products in PRC.
To enhance the Group's investments in upstream supply chain, the Group has entered into the long-term iron ore offtake agreements with Australia-listed iron ore producer Mount Gibson Iron Limited (Mt. Gibson) and held approximately 1.46 billion ordinary shares (equivalent to about 27.6% stake) of Shougang Resources, which is one of the largest hard coking coal producers in China. These upstream assets provide a good profit base for the Group.
Listed on the main board of the HKSE since 1991, the Company was one of the first "red chips" in Hong Kong. The Group is staying firm and is confident of creating values for its shareholders.
The Company's major shareholder is Shougang Holding (Hong Kong) Limited, which is a wholly-owned subsidiary of Shougang Group Co., Ltd.. Shougang Group Co., Ltd. is a state-owned enterprise under the supervision of the Beijing State-owned Assets Supervision and Administration Commission.
updated 17th January, 2018
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